Park Aerospace raises quarterly dividend 25% to 12.5c per share

Park Aerospace Corp. announced that, at its regular meeting on February 9, 2023, its Board of Directors: Approved a 25% increase in the company’s regular quarterly cash dividend from the current rate of 10c per share to a new rate of 12.5c per share; Declared a regular quarterly cash dividend of 12.5c per share payable May 5, 2023 to shareholders of record at the close of business on April 3, 2023; and declared a special dividend of $1.00 per share payable April 6, 2023 to shareholders of record at the close of business on March 9, 2023. The total amount of this special dividend is expected to be approximately $20.5M. Brian Shore, Park’s Chairman and CEO, said, "During our recent quarterly investor conference calls and presentations, we have discussed in some detail our views about the outlook for Park. We also specifically discussed many of the key aerospace programs on which Park is already sole-source qualified and their significant long-term value to Park. Based upon this outlook and these key programs, we believe the increase in our regular dividend is justifiable and proper and, although there can be no absolute assurance regarding future cash dividends, we are quite confident that the increase is sustainable. We have had a long run with our regular dividend, and we do not intend to disrupt that run."